An executive sold 36% of his stake in Oceaneering following the company’s highest EBITDA since 2015.
Oceaneering International’s chief commercial officer, Earl Childress, sold 12,701 shares for approximately $593,000 on July 30, reducing his direct holdings by 36%. The sale was executed at a weighted average price of $46.71 per share, with trades ranging from $46.595 to $46.96.
The transaction follows Oceaneering’s strongest EBITDA performance since 2015, though the company has not disclosed specific financial details for the period. Childress retains 22,876 shares, valued at $1.09 million based on the July 30 closing price of $47.64.
Oceaneering specializes in subsea robotics and offshore drilling services, with its Subsea Robotics division driving primary revenue through remotely operated vehicles (ROVs).